Property Detail

Description

Located at 21601 Norwalk Blvd in Hawaiian Gardens, this four-unit retail building presents an outstanding investment opportunity. Ideal for an investor seeking to add value and develop new possibilities, it is equally suited for an owner-user looking to expand their existing business or launch a new venture in the area. This property features both brand-new and well-maintained units. In 2023, the owner developed two entirely new units on the parcel, adding modern construction to the offering. The other two units, built in 1959, have been well kept by the owner, maintaining their charm and functionality. Currently, the property is fully occupied with three tenants, one of which occupies the two newly built units. Listed for sale at $1,725,000, the property is priced at $503 per square foot and $431,250 per unit. It generates a rental income of $6,997 per month, totaling $83,964 annually. This results in a 3.02% cap rate and a 20.54 GRM. Situated on a highly visible section of Norwalk Blvd, the property benefits from an average of +/- 26,000 cars driving by daily, ensuring significant exposure to potential customers. The property's proximity to notable landmarks such as the Hawaiian Gardens Casino, located just around the corner on Carson St, and the equally well-trafficked Hawaiian Gardens Bingo Club, less than half a mile down Norwalk Blvd, further enhances its appeal.